HMH Holding Inc. announced the start of an initial public offering for 10,520,000 shares of its Class A common stock, setting an expected price range of $19.00 to $22.00 per share, according to the company statement.
The underwriting group has been granted a 30-day option to acquire up to 1,578,000 additional shares at the IPO price, subject to customary underwriting discounts and commissions. HMH has submitted an application to list its Class A common stock on The Nasdaq Global Select Market under the ticker symbol "HMH."
J.P. Morgan, Piper Sandler and Evercore ISI are named as joint lead book-running managers for the proposed offering. Citigroup and DNB Carnegie are designated as joint book-running managers, while Stifel, Nordea and Pickering Energy Partners are serving as co-managers.
HMH describes its business as the manufacture of drilling equipment and the provision of services and systems that support oil and gas operations in both offshore and onshore environments. The company also supplies aftermarket services and notes that its operations extend into adjacent industries including mining.
A registration statement covering the securities has been filed with the Securities and Exchange Commission but has not yet become effective. The company emphasized that no securities may be sold until the registration statement becomes effective.
The planned offering will proceed through a prospectus, with copies available from the underwriters and via the SEC’s website under the registrant name "HMH Holding Inc."
Summary of the offering
- Shares being offered: 10,520,000 Class A common shares.
- Price range: $19.00 to $22.00 per share (expected).
- Underwriter option: 30-day option to purchase up to 1,578,000 additional shares at the IPO price, less underwriting discounts and commissions.
- Proposed listing: Nasdaq Global Select Market under "HMH."
Context on operations
HMH's stated activities center on designing and producing drilling equipment and delivering related services and systems for oil and gas operators in both offshore and onshore settings. The company also provides aftermarket support and operates in adjacent sectors such as mining.
Regulatory status and distribution
The company has filed a registration statement with the SEC, which remains unqualified at this time. Copies of the prospectus will be distributed by the underwriters and can be accessed on the SEC’s website under the registrant name "HMH Holding Inc."